#USHouseMarketStructureDraft

Bitcoin Analysis Today – May 6, 2025

The price of Bitcoin stabilized today near $94,700, after dropping to $93,400 in the morning, amidst anticipation ahead of tomorrow's Federal Reserve meeting. The market is monitoring Jerome Powell's statements that could determine the upcoming price direction. In the meantime, Bitcoin's dominance in the market has risen to its highest level in 4 years, as capital flows from alternative currencies towards Bitcoin, reflecting investors' confidence in it as a safe haven.

In an unprecedented move, the state of New Hampshire in the USA has enacted a law to create a strategic reserve of Bitcoin, enhancing its legitimacy as a store of value.

Today's advice: Watch for the Federal Reserve's statements tomorrow; any indication of interest rate stabilization could support a new rise for Bitcoin.

Sources:

Investopedia

CoinDesk

Bitcoin Magazine